Home and Contents Insurance Calculator: A Handy Tool
You have put your signature on the dotted line, and just been handed the keys to your new home. It is exciting to purchase property but with the elation of a new home, comes the reality of knowing you have just made a very expensive and large investment. This is the time where you need to keep your cool as you looking into getting insurance protection for your valuable property and contents. It's important to do your homework and research the many choices available and make sure that any home insurance policy you do take out provides adequate coverage for your home and interior possessions. This is where tools such as a Home and Contents Insurance Calculator can lend a helping hand.
Insurance calculators are usually found online, often through the insurance companies' website. You'll find home and contents insurance calculators that will:
- Assist you in calculating the cost of replacing your home in the event of total destruction;
- Assist you in estimating the true value of the contents of your home;
- Based on the information you provide, there is a calculation that will estimate the cost of home insurance;
These invaluable calculators can guide you to ensure you take out sufficient coverage. While you're being so diligent, this is a great time to make a list that includes price or item, date received, description, etc. and keep an inventory of the contents of your home in a safe place (usually outside the home), taking still photographs or video of them is also a good idea. Why would you want to do that, you might be asking? Because in the event of a claim, your insurer may ask you to provide proof of the items you are claiming for existence, or evidence of their value. If you cannot provide this evidence, your claim may be denied or severely lowered.
Evidence of ownership and price value is of particular important for specific items of value like jewellery such as wedding band, expensive, professional photographic equipment, antiques and artwork of great value. In fact, these items often need to be covered separately or listed on your policy and to do this it's likely that you'll need to provide the evidence of ownership and value when you insure the item. This is not something that you should €do later' €" your standard home and contents policy has a cap on the amount you can claim for items like jewellery. Often, this is only a couple of thousand dollars, so if you fail to itemize and insure these items, like a fur coat or expensive jewellery, it will more than likely result in you losing the item and not being reimbursed in cash form the insurance companies in the event of a theft.
Building insurance calculators have been designed to assist you to estimate the total cost that would be involved in re-building your home if it was completely destroyed. Once you've estimated the value of contents and the cost of re-building, you'll be able to use a home insurance estimate calculator to work out how much your insurance is likely going to cost.
Equipped with the information prepared by the home and contents insurance calculators, you are now ready to begin comparing policies for the best deal. Don't dismiss the insurers' reputation as well as price €" an inexpensive insurance policy may be totally useless if the insurer costs you money by unfairly delaying or reducing your claim.
Insurance calculators are usually found online, often through the insurance companies' website. You'll find home and contents insurance calculators that will:
- Assist you in calculating the cost of replacing your home in the event of total destruction;
- Assist you in estimating the true value of the contents of your home;
- Based on the information you provide, there is a calculation that will estimate the cost of home insurance;
These invaluable calculators can guide you to ensure you take out sufficient coverage. While you're being so diligent, this is a great time to make a list that includes price or item, date received, description, etc. and keep an inventory of the contents of your home in a safe place (usually outside the home), taking still photographs or video of them is also a good idea. Why would you want to do that, you might be asking? Because in the event of a claim, your insurer may ask you to provide proof of the items you are claiming for existence, or evidence of their value. If you cannot provide this evidence, your claim may be denied or severely lowered.
Evidence of ownership and price value is of particular important for specific items of value like jewellery such as wedding band, expensive, professional photographic equipment, antiques and artwork of great value. In fact, these items often need to be covered separately or listed on your policy and to do this it's likely that you'll need to provide the evidence of ownership and value when you insure the item. This is not something that you should €do later' €" your standard home and contents policy has a cap on the amount you can claim for items like jewellery. Often, this is only a couple of thousand dollars, so if you fail to itemize and insure these items, like a fur coat or expensive jewellery, it will more than likely result in you losing the item and not being reimbursed in cash form the insurance companies in the event of a theft.
Building insurance calculators have been designed to assist you to estimate the total cost that would be involved in re-building your home if it was completely destroyed. Once you've estimated the value of contents and the cost of re-building, you'll be able to use a home insurance estimate calculator to work out how much your insurance is likely going to cost.
Equipped with the information prepared by the home and contents insurance calculators, you are now ready to begin comparing policies for the best deal. Don't dismiss the insurers' reputation as well as price €" an inexpensive insurance policy may be totally useless if the insurer costs you money by unfairly delaying or reducing your claim.